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vermille

vermille
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  • Visa And MasterCard Will Win In Mobile Due To HCE [View article]
    The cost to entry for any additional player is astronomical. Consider the backbone, infrastructure, legal and regulatory risk along with the clearing mechanisms for both Visa and MasterCard and their daily "balancing" with each participating bank/lender. The investment for same is astronomical and there are no apparent shortcuts to this business model. Processing is completed in nanoseconds but the support and supporting structures demand humongous investments in both time and money. No shortcuts here, however, the suggestion for Google, Amazon and/or Facebook is not without conjecture. Knowledge, speed and flexibility is a big factor for consideration here and lastly time. No doubt, both Visa and MasterCard are being looked at to see if there is a faster, cheaper method for handling the volumes and mobile begins to pose some important questions but the clearing mechanism and interface has sworn allegiance by the banks--just look at the long term relationship(s) for and with both of these processors. It dates back to the early 1970's with a precursor of Diner's Club. Ease of entry is not a factor here.
    Aug 30 07:05 AM | Likes Like |Link to Comment
  • The Gilead Rebuttal [View article]
    Doctor,
    Most solid analytics and a supported thesis. You wear your credentials well.
    My New Year's resolution is to follow your writing. Superb job! This observation and evaluation comes from a retired prof in finance and analytics.

    Your article is one of the best pieces I have ever read on SA.
    I am forwarding same to retired pharmacists, clinicians etc. as you have been able to cross multiple disciplines.


    Best Regards,
    Jan 7 05:52 PM | 3 Likes Like |Link to Comment
  • Medallion Financial Trouble Brewing Quickly [View article]
    Meddguy,

    You are overwhelming correct. And here is a historical perspective:

    On December 30, 2013 Bloomberg Radio interviewed Uber management. Uber is enjoying pain in the NY marketplace---and not the gain it had wished to perfect. Yet, Uber is intent on becoming a player and a mainstay.

    However, a review of TAXI since the last quarter of calendar 2013 indicates other negatives in the NY marketplace and hence its downturn in price action.

    All of this will have to be analyzed and witnessed over time. One of the largest risks any investor must understand is event risk. Other risks are monitored daily by edicts from talking heads and writers.

    At this point TAXI needs to be examined in light of the elasticity of supply and demand. The market in the NY area is full of black cars---ready for resale---- as NY offered an opportunity for "green" colored cars---very similar to the "yellow" taxi clearly visible on a fare monitored basis.

    Black car drivers jumped to the NYC sanctioned green car. Black car drivers found a more solid investment in the city sanctioned green cabs. The city's outer-boros are now awash with green cars. The standard yellow remains operable but is largely seen in Manhattan. There are some restriction(s) as to where the green cabs may travel to and from.

    The tradeoff in terms of competition of yellow or green will have to play out over time. Suggest readers check out the Taxi and Limousine Car Service Magazine as of November 2013 (http://www.tlcmag.com) for additional details on the entry of "green" cars in the city.

    As the outgoing mayor of NYC, Michael Bloomberg, stated...." the green cabs have already monitored more than 900,000 miles." That makes everyone a winner. The issue for city sanctioned "fare" business is competition--with some constraints for the green cars.

    Then there is the inevitable political and economic risk. along with the unknown risk of what the new mayor will either adhere to or change. Lastly, there will then remain the proverbial and inevitable credit and interest rate risk. More "green" cars are scheduled for 2014; even more city revenue.

    In order to get hands around the Medallion portfolio and TAXI in particular one must engage in some background reading on the medallion process and the decisions on a go forward basis of Uber.

    Hand's up folks and "hail" that cab--be it yellow or green.
    Jan 7 04:05 PM | Likes Like |Link to Comment
  • Medallion Financial Trouble Brewing Quickly [View article]
    SA Readers.

    Below follows a newswire clip (also available @ 4-Trader) should facilitate understanding of current market conditions for TAXI investors. Please read and view the indicated sites.....

    AS INDICATED AND QUOTED BELOW:

    "Andrew Murstein, Medallion Financial's President, stated, "The recent New York City taxi medallion auction established record high prices for taxicab medallions, with an average winning bid of $2.27 million for each two medallion mini-fleet. During December, we also closed a $45 million public offering of our common stock. We believe these events underscore the strong asset quality underlying our medallion loans and the continued positive performance of our medallion loan portfolio and our company overall."

    Medallion Financial Corp. is a specialty finance company with a position in the origination and servicing of loans financing the purchase of taxicab medallions and related assets."
    Dec 30 11:03 AM | Likes Like |Link to Comment
  • Medallion Financial Trouble Brewing Quickly [View article]
    Paulos,

    You have opened a can of worms. As you can see there are two sides to each argument. That shall continue and here is the reason why. TAXI has had a VERY long and strong history in NYC. The portfolio in the not too recent past has transferred hands among many lenders. Fortunately, I have had management experience with this portfolio and watched as it has been sold across varied lending institutions. The proud owner is now Medallion Bank. As a BRC it is an extremely strong business unit and model. Take a look at the metrics on this portfolio---they are superb and excellently managed. As for the market in NYC for transportation it requires yellow cabs, green cabs, black cars and software. Be not afraid to invest or hold this portfolio; New York City is a city of movers and shakers. Transportation, transport aids and access to "wheels" is supremely important.

    By way of note I stopped reading you re: Amazon and your negativity there. It is perhaps a better avenue to really perform due diligence, "kick the tires" and understand the marketplace.

    I shall continue to hold my 4 figure shares of TAXI for the future and hope that others are not dissuaded by any negative persistence. The readers of SA can rest assured that NYC Never Sleeps and TAXI keeps it on the move.

    Best to all TAXI investors for a very prosperous New Year......Go TAXI go!
    Dec 27 11:04 AM | 1 Like Like |Link to Comment
  • Home Properties: Why It's Time To Buy This Apartment REIT [View article]
    Really appreciated your work and effort here. Liked the continuity of the article and the thesis as well. Will look into HME and its forward momentum post current markets. Thanks a bunch!
    Aug 25 11:37 AM | Likes Like |Link to Comment
  • Investors Real Estate (IRET): FQ4 FFO of $0.19 beats by $0.02. Revenue of $67M beats by $1.07M. (PR[View news story]
    As in the little train that could......"Go baby go!"
    Jul 2 09:19 AM | Likes Like |Link to Comment
  • Investors Real Estate (IRET): FQ4 FFO of $0.19 beats by $0.02. Revenue of $67M beats by $1.07M. (PR[View news story]
    As in the little train that could......"go baby go!"
    Jul 2 09:17 AM | Likes Like |Link to Comment
  • Does High Volatility Mean The Bond Vigilantes Have Returned? [View article]
    Alpha V/N Research,

    Spot on!

    You have furnished SA's readers a fantastic service. Others are merely commentaries, jargon, excited and false explanations but your article is/was the most accurately written. You furnished the depiction of outcomes and described the current scenario.

    Well done.....and many thanks.

    Net, net....the Fed could be pushing on a string. The ultimate Fed speak was Bernake's recent reply regarding Japan, to which he responded..." I was not asked."

    That spoke volumes and hence last week's bond vigilantes responded---as they always will. This is an intermarket phenomena and not the panacea investors anticipated---stay tuned.

    Thanks again for a very well informed article.
    Jun 2 02:31 PM | Likes Like |Link to Comment
  • The ABCs Of An mREIT And Its 15% Dividend Yield [View article]
    Excellent article. Great to wake up to.

    Having earlier read the transcript it also appears that Wells Fargo had an excellent understanding of the situation. You enhanced all of that earlier dialogue on AGNC with the clarity you added on repos.

    Many thanks, keep up the good work. Your article permits a better understanding of endemic risk to that business model which is not always transparent to investors.
    May 6 07:05 AM | 2 Likes Like |Link to Comment
  • Lesson From Cyprus: Cashless Society Equals No More Bank Runs? [View article]
    Agree with 5bandit5---there actually is NO thesis....just his emotional backdrop.....how content like this makes it onto SA is always a surprise and certainly unwelcomed...scratch this writer off my radar.
    Mar 30 09:42 AM | Likes Like |Link to Comment
  • 3D Systems: A Sobering Reality [View article]
    You did it! Folks who do not utilize nor understand Sources & Uses are left out on the limb and eventually the tree does fall. Congrats on the use of your intellect and your education.

    Let's watch the opening, closing and a review by Cramer who has chosen DDD over everything else. Guess it is time for him to understand when SOMEONE COOKS THE BOOKS!

    Great job, great job! As your critics suggest and address sensationalism, personal likes and dislikes and discuss your motivation you have most effectively drilled down to the essence of the whole game.

    Many thanks and hat's off! Keep up the GOOD work.
    Jan 21 09:23 PM | 1 Like Like |Link to Comment
  • It's hardly surprising that new Citigroup (C) CEO Michael Corbat - himself a company lifer - is choosing to build from within. But with its top three men knowing nothing but Citi life, the bank "risks blindly following the status quo and being resistant to change." Other dangers of tunnel vision: internal politics, risk aversion, and corruption. [View news story]
    It is show and tell time folks.....watch and see!
    Jan 13 06:41 PM | Likes Like |Link to Comment
  • It's hardly surprising that new Citigroup (C) CEO Michael Corbat - himself a company lifer - is choosing to build from within. But with its top three men knowing nothing but Citi life, the bank "risks blindly following the status quo and being resistant to change." Other dangers of tunnel vision: internal politics, risk aversion, and corruption. [View news story]
    Don't forget the heydays of the 80's and 90's when Citi was heralded for its superior viability in all markets....for its consistency in risk management for its leadership nationally and globally....These guys were there then and there now---amen! This is the best thing that could have happened to Citi. The days and legacy of Sandy Weill are exactly what Weill himself admits to being wrong. Now commences the resurrection of the ole' Citi---it's growth, it's insight and it's fantastic market metrics. Citi is doing a clean-up of and on itself. This stock is headed to the high 50's. Then the word will spread...."The ole' Citi has been resurrected!" Internally, they are doing what Citi veterans and old timers always do.... i.e., a very careful due diligence.
    Best to Citi, its 200 year legacy and its continued growth.
    Jan 13 05:37 PM | Likes Like |Link to Comment
  • Broadly Framing Housing With Berkshire Hathaway In 2013 [View article]
    "Great read Professor!" Many, many thanks for the content and the construct.

    Happy New Year to you and your family.

    I look forward to your next contribution to SA.

    Regards,

    Vermille
    Jan 1 09:41 AM | Likes Like |Link to Comment
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